The widening spectrum for application of computed tomography scan and growing incidences of chronic diseases, coupled with an aging population is set to drive the market for CT scanners globally. The global market is expected to grow at an estimated CAGR of 7.1% from 2012 to 2018, with the scope of growth increasing even more in the near future. The CT scanners market has been growing at a significant pace ever since Siemens introduced the multi-slice technology in the field of CT scanning. This has not only helped in reducing the risk of exposure to harmful radiations, but also in optimizing the performance of CT scanners in terms of the scan speed.
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The growth of CT scan market in the field of diagnostic imaging has had a diminishing impact on the growth of the x-ray market, which is gradually being phased out. The trend is more evident in developed markets, such as the United States and Western Europe. The growth potential for CT scanners in emerging markets is still high, where x-ray accounts for a large share of the medical imaging market. In these regions, the application of CT scans is still restricted to oncology only, and used primarily for the diagnosis of cancer.
Fast growing regions such as India, Russia, Israel, and Australia, are seeing a quick transformation to advanced technologies and services, and the market is expected to see a surge in demand towards the end of the forecast period. This is largely due to an increase in the focus on healthcare services by various regional governments, which has resulted in an increased budgetary allocation for the healthcare sector. Governments are encouraging the PPP (Public private Partnership) model for ensuring that new technologies are introduced in the market and are easily accessible for individuals. This model helps in promoting quality care services with reduced financial burden.
Driven by different macro and micro economic factors, the CT scan market is estimated to see a rise in its market share of imaging market, which currently stands at approximately 19%. This growth is largely attributed to the introduction of new technologies, which are making the system faster, effective, and precise, consistently. The prominent trend is development of high slice CT scanners, which helps in improving the clinical utility of the device and the technology. At present, 16 and 64 slice scanners are popular among the service providers, though 320 slice scanner systems are also available.
The market for CT scans can be analyzed by segmenting it on various parameters such as the product type, end users, and geographic regions. The different product types are: low, medium, and high -slice scanner systems. On the basis of end users, the market can be segmented into – hospitals and clinics, imaging centers, and others. The others category would include research and development centers and medical educational institutions. The key geographic segments can be: North America, EMEA (Europe, Middle East, and Africa), Asia-Pacific, and Rest of the World (RoW).
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Some of the market players in this industry segment Siemens, GE Healthcare, Philips Healthcare, Trivitron Technologies, Toshiba Medical Systems, and others.
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